Wolfspeed Inc (NYSE:WOLF) Receives Consensus Rating of "Reduce" from Analysts

Key Points

• Wolfspeed Inc (NYSE:WOLF) received a consensus rating of "Reduce" from analysts, with five sell ratings, two holds, and four buy ratings among the eleven brokerages covering the firm.
• The average 1-year target price for Wolfspeed stock is $9.80, while the stock is currently trading at around $30.47 with significant fluctuations over the past year.
• Several institutional investors have recently made moves regarding their stakes in Wolfspeed, with notable increases in holdings by MAI Capital Management, which raised its stake by 894.9%.

Shares of Wolfspeed Inc (NYSE:WOLF - Get Free Report) have been assigned an average recommendation of "Reduce" from the eleven brokerages that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $9.80.

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Wolfspeed in a research note on Saturday, September 27th.

Wolfspeed Stock Up 14.2%

NYSE:WOLF opened at $30.47 on Thursday. The stock's fifty day moving average is $5.53 and its two-hundred day moving average is $3.38. Wolfspeed has a 52 week low of $8.05 and a 52 week high of $34.28. The stock has a market capitalization of $787.34 million and a price-to-earnings ratio of -2.70.

Institutional Investors Weigh In On Wolfspeed

Hedge funds have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC acquired a new stake in Wolfspeed during the 1st quarter worth approximately $28,000. Beacon Capital Management LLC acquired a new stake in shares of Wolfspeed in the first quarter valued at $31,000. Wealthfront Advisers LLC acquired a new stake in shares of Wolfspeed in the first quarter valued at $32,000. MAI Capital Management raised its stake in shares of Wolfspeed by 894.9% in the first quarter. MAI Capital Management now owns 10,815 shares of the company's stock valued at $33,000 after acquiring an additional 9,728 shares in the last quarter. Finally, Twin Tree Management LP acquired a new stake in Wolfspeed in the 1st quarter valued at about $42,000.

Wolfspeed Company Profile

Wolfspeed, Inc operates as a powerhouse semiconductor company focuses on silicon carbide and gallium nitride (GaN) technologies in Europe, Hong Kong, China, rest of Asia-Pacific, the United States, and internationally. It offers silicon carbide and GaN materials, including silicon carbide bare wafers, epitaxial wafers, and GaN epitaxial layers on silicon carbide wafers to manufacture products for RF, power, and other applications.

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